ETV vs. INDY
ETV (Eaton Vance Tax-Managed Buy-Write Opportunities Fund) is a stock, while INDY (iShares India 50 ETF) is Emerging Markets Equities fund tracking the Nifty 50 Index. Over the past 10 years, ETV returned 9.44%/yr vs 6.65%/yr for INDY. At a 0.43 correlation, their price movements are largely independent.
Performance
ETV vs. INDY - Performance Comparison
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Returns By Period
In the year-to-date period, ETV achieves a 6.52% return, which is significantly higher than INDY's -13.37% return. Over the past 10 years, ETV has outperformed INDY with an annualized return of 9.44%, while INDY has yielded a comparatively lower 6.65% annualized return.
ETV
- 1D
- 0.48%
- 1M
- 3.07%
- YTD
- 6.52%
- 6M
- 8.33%
- 1Y
- 18.73%
- 3Y*
- 15.07%
- 5Y*
- 6.98%
- 10Y*
- 9.44%
INDY
- 1D
- 1.16%
- 1M
- 0.71%
- YTD
- -13.37%
- 6M
- -11.62%
- 1Y
- -12.55%
- 3Y*
- 1.97%
- 5Y*
- 1.75%
- 10Y*
- 6.65%
ETV vs. INDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 6.52% | 8.63% | 27.67% | 9.94% | -19.73% | 18.41% | 13.03% | 21.25% | -4.29% | 12.98% |
INDY iShares India 50 ETF | -13.37% | 4.97% | 3.47% | 16.88% | -7.31% | 19.43% | 10.01% | 9.99% | -4.32% | 36.15% |
Correlation
The correlation between ETV and INDY is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2009 | 0.43 |
The correlation between ETV and INDY shifts across timeframes, from 0.31 (3 years) to 0.43 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ETV vs. INDY — Risk / Return Rank
ETV
INDY
ETV vs. INDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) and iShares India 50 ETF (INDY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ETV | INDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.46 | ||
| Sortino ratioReturn per unit of downside risk | +3.51 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.85 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | -0.73 | +2.51 |
| Martin ratioReturn relative to average drawdown | 9.05 | -1.59 | +10.64 |
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Drawdowns
ETV vs. INDY - Drawdown Comparison
The maximum ETV drawdown since its inception was -52.11%, which is greater than INDY's maximum drawdown of -44.74%. Use the drawdown chart below to compare losses from any high point for ETV and INDY.
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Drawdown Indicators
| ETV | INDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -44.74% | -7.37% |
Max Drawdown (1Y)Largest decline over 1 year | -10.34% | -18.95% | +8.61% |
Max Drawdown (3Y)Largest decline over 3 years | -20.27% | -22.40% | +2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | -22.40% | -0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -42.39% | -43.50% | +1.11% |
Current DrawdownCurrent decline from peak | -1.14% | -19.12% | +17.98% |
Average DrawdownAverage peak-to-trough decline | -5.57% | -12.23% | +6.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 8.72% | -6.69% |
Volatility
ETV vs. INDY - Volatility Comparison
The current volatility for Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) is 3.67%, while iShares India 50 ETF (INDY) has a volatility of 3.98%. This indicates that ETV experiences smaller price fluctuations and is considered to be less risky than INDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETV | INDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.67% | 3.98% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 10.11% | 12.35% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.31% | 14.31% | -2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.88% | 14.96% | +1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 19.58% | -0.29% |
Dividends
ETV vs. INDY - Dividend Comparison
ETV's dividend yield for the trailing twelve months is around 8.06%, less than INDY's 9.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 8.06% | 8.30% | 8.18% | 9.24% | 10.57% | 7.94% | 8.66% | 8.89% | 9.86% | 8.65% | 8.96% | 8.69% |
INDY iShares India 50 ETF | 9.36% | 8.11% | 0.24% | 0.38% | 3.75% | 7.12% | 0.08% | 0.58% | 0.55% | 0.27% | 0.48% | 0.57% |
Frequently Asked Questions
ETV and INDY have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDY has higher volatility (3.98%) compared to ETV (3.67%). In terms of maximum drawdown, ETV dropped -52.11% vs INDY's -44.74%.
ETV currently has the higher Sharpe Ratio (1.49 vs -0.97), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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